Liquidator

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Liquidator

Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts.

Liquidator

In bankruptcy, a person placed in charge of a company sometimes by creditors or shareholders, but often by court order who must oversee the winding down of operations and sell all assets. As the liquidator sells off assets, he/she uses the proceeds to pay creditors, starting with secured creditors, by giving them proceeds from sold collateral, followed by unsecured creditors. If there is any money remaining, the liquidator distributes this to the shareholders, if any, or the owner. The liquidator is paid a fee for these services. See also: Receivership.

liquidator

see LIQUIDATION, INSOLVENCY.
References in periodicals archive ?
ASIC's report provides a comprehensive view of its activity in the insolvency market, including the work with registered liquidators in the event of company failure; and particularly through ASICs administration of the Assetless Administration Fund, the Liquidator Assistance Program and enforcement action against directors and others based on registered liquidator reports to ASIC.
The post Tanzania appoints liquidator at FBME appeared first on Cyprus Mail .
Due to this high demand, Ice Dam Liquidators is looking to hire new ice dam repair technicians in Boston.
If you were a member of Canton Labour Club at September 30, 2009, and you have not received any letters from the liquidators, please contact Freda Young at the liquidators' office, Begbies Traynor, 5th Floor, Riverside House, 31 Cathedral Road, Cardiff, CF11 9HB by December 14.
The liquidator has already claimed fees and expenses of more than pounds 43,000.
Liquidators have filed the suit against refusal by Bank Leumi to cancel a seizure order in Israel.
The liquidators estimate that up to pounds 500 million of further claims may be admitted.
After years of legal battles and the final ruling of the courts that the Vancouver schools should be sold, an out-of-court settlement was reached on July 25, whereby the Vancouver Catholic community will pay $19 million to the liquidators and, in return, will keep the two high schools.
With over 290 locations, Lumber Liquidators is North America's largest specialty retailer of hardwood flooring.
Consumer Product Safety Commission (CPSC) is announcing that Lumber Liquidators has agreed to not resume sales of laminate wood flooring previously imported from China.
com)-- LV Liquidators, a global leader in hotel and restaurant furniture liquidation, has unveiled an updated, easier-to-use website that provides clients with a simpler way to find top-quality, unique furniture items for their own hotel and restaurant renovation projects.
The presiding judge in the abortive lawsuit brought against the Bank of England by the liquidators of the Bank of Credit and Commerce International revealed yesterday that he had sought advice from the Lord Chief Justice on how to end the "farcical" claim.